Amazon is Acquiring Electronic Arts – Rumour [UPDATE]

UPDATE: CNBC’s David Faber reports that Amazon is not making a bid for Electronic Arts, contrary to previous reports.

Amazon is not going to make a bid for Electronic Arts, sources tell CNBC's @DavidFaber. Shares of $EA surged earlier on a report citing a "rumor." pic.twitter.com/k7wk0Fy7xv

— CNBC Now (@CNBCnow) August 26, 2022

Original story continues:

The acquisitions arms race has heated up significantly in the games industry these last few years, and with massive deals involving the likes of Activision Blizzard and Bethesda, it’s become clear that even the biggest companies out there are ripe for the plucking for the even bigger players of the industry. In fact, as per a new report, another one of these major acquisitions is soon going to be announced.

As per a report published by USA Today, Amazon is acquiring Electronic Arts. The tech giant has allegedly put in an offer for the full acquisition of EA, which, according to the report, will be formally announced later today. The specific details, such as the amount of Amazon’s bid, are currently unknown, but it seems like we might find out soon enough.

EA has frequently come up in recent discussions surrounding potential big-name company acquisitions. Analysts have previously predicted that the FIFA, Battlefield, and Apex Legends publisher could be the next major acquisition target for tech giants, while a report earlier this year claimed that EA has been pushing for a merger or acquisition behind-the-scenes, having approached a number of companies, including, Amazon, Disney, and more.